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Showing 101 - 110 of 121 results for "Interests Duty"

AFA finds FoFA debate "surprising"

LAURA MILLAN  |  THURSDAY, 27 MAR 2014
... fiction and misrepresentation." The organisation said that "there is no justification for the claim that the Best Interests Duty is being removed" and added that there is "significant" support from financial services legal firms for the removal of the ...

Industry receives FoFA bill with mixed feelings

LAURA MILLAN  |  THURSDAY, 20 MAR 2014
... costs to consumers and the industry from re-permitting commissions through general advice and weakening the best interests duty," Whiteley said. He added that "many problems remain" and noted that "the changes to the scope of the general advice exemption ...

FoFA introduced into parliament with some tweaks

ALICE URIBE  |  WEDNESDAY, 19 MAR 2014
... costs to consumers and the industry from re-permitting commissions through general advice and weakening the best interests duty," he said. "In one fell swoop, supposed red tape savings for businesses could be far outweighed by consumer losses and reputational ...

FoFA amendments will reduce quality of advice: lawyer

JAMES FERNYHOUGH  |  TUESDAY, 11 MAR 2014
... interest duty section of the Future of Financial Advice (FoFA) reforms are "inconsistent with the nature of a best interests duty" and will "reduce the overall quality of financial advice", according to legal advice obtained by Industry Super Australia ...

FPA "extremely wary" of general advice commissions

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
... advice "to avoid unintended consequences" and it endorsed the removal of sub-section s961B(2)(g) about the best interests duty. "The FPA remains concerned that the formulation of the duty in Section 961B(2)(g) might be an encouragement to litigation ...

FoFA changes go too far diluting conflicted rem: ISA

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
... Future of Financial Advice (FoFA) "go too far by diluting both the conflicted remuneration prohibition and the best interests duty." ISA deputy chief executive Robbie Campo spoke yesterday in a public hearing of the Senate Economics Reference Committee ...

AFA to lobby on FoFA through grassroots campaign

LAURA MILLAN  |  MONDAY, 10 FEB 2014
... amendments we will still have the most regulated financial advice framework in the world including a legislated best interests duty that is well defined, understood and enforceable." The AFA will brief around 1,400 financial advisers during the GenXt ...

Fears to FoFA amendments "overplayed": AFA

LAURA MILLAN  |  WEDNESDAY, 22 JAN 2014
... explained that the amendments proposed by the Coalition government in December 2013 "remove one step from the Best Interests Duty, where there was a lack of clarity" and he added that "in no circumstances can this obligation be avoided." Removing this ...

ASIC wants more adviser record-keeping rules

LAURA MILLAN  |  THURSDAY, 1 AUG 2013
... ASIC asks planners to keep records to prove that the licensee and its representatives have complied with the best interests duty and related obligations. It also reminds advisers that they must keep records of ongoing fee arrangements entered into with ...

FoFA still in need of changes: industry

LAURA MILLAN  |  WEDNESDAY, 3 JUL 2013
... Services Council (FSC) specified that the best interest duty is one of the aspects that needs to change. "The Best Interests Duty provision needs modification to ensure it provides certainty and a genuine safe harbour for advice providers," FSC senior ...

Editor's Choice

Invesco launches new equity fund

ELIZA BAVIN
Invesco said the new fund will give Australian investors access to a systematic global equity strategy with a 20-year track record.

FCA pursues Neil Woodford again

KARREN VERGARA
The Financial Conduct Authority (FCA) is going after failed fund manager Neil Woodford again, this time for allegedly providing unauthorised investment advice via W4.0, his Dubai-based investment platform.

Former APRA deputy chair launches retirement solutions startup

KARREN VERGARA
A former APRA deputy chair has launched CipherIQ, a new venture that provides retirement solutions via account-based pensions in partnership with superannuation funds, financial advisers and retirees.

Global X launches space tech ETF

MATTHEW WAI
Global X has now launched the space tech ETF (ASX: MOON).

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